Gap Closing Fifth Avenue Store

San Francisco-based The Gap Inc. announced that it will close its flagship store on New York’s Fifth Avenue later this month.

The store is slated to close Jan. 20 and follows Chief Executive Officer Art Peck’s announcement in November that the retailer was considering closing hundreds of “underperforming stores,” according to San Francisco Business Times.

The company has not provided details as to why this location is being closed. However, the Fifth Avenue store has not been considered the company’s flagship store in the area since 2017, which is when the company opened its Times Square store, which now carries that distinction.